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South Carolina divests from Disney over Twitter ad boycott

“South Carolina State Treasurer Curtis Loftis has removed The Walt Disney Company from its approved investment list. The State Treasurer’s Office portfolio contains $105 million dollars of Disney debt instruments that will mature as scheduled and will not be replaced.”

“The Treasurer will focus on the equity portfolio in the coming weeks. In speaking to his staff, Treasurer Loftis expressed concerns that ‘Disney has abandoned its fiduciary responsibilities to its investors and customers by joining far-left activist in boycotting legal, taxpaying, employment-creating corporations to further Disney’s political agenda.’ Treasurer Loftis stated that ‘multi-billion-dollar corporations should not engage in boycotts designed to silence legitimate debate. Since America’s founding, freedom of speech has been one of its core principles, and Disney should not engage in nefarious practices aimed at silencing those with less power and money,'” said the South Carolina State Treasurer’s office in a statement on Tuesday, sticking it to Disney.

Not sure what we can add to this. The complete void of irony speaks more than enough for itself, and other than noting that the part about Disney “silencing those with less power and money” is technically accurate. Like Disney almost certainly does have more money than Twitter, Tesla, SpaceX, and Elon Musk personally. “Power” certainly applies here too, like there isn’t really anything that Musk or his companies can do to retaliate against Disney for not buying ad space. That’s why Elon publicly told CEO Bob Iger to go fuck himself at that big conference last week.

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